Tigo Energy, Inc.

Good afternoon. Welcome to Tygo Energy's Fiscal First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. Joining us today are Svi Alon, CEO, and Bill Roschlein, CFO. As a reminder, this call is being recorded. I would now like to turn the call over to Bill Roschlein, Chief Financial Officer.

Thank you, Corinne, and it's a pleasure to join you from our corporate offices in Campbell, California. Also with us is Viallon, our CEO, who is joining us from the Intersolar Conference in Munich, Germany. I'd like to remind everyone that some of the matters we'll discuss on this call, including our expected business outlook, our ability to increase our revenues and become profitable, and our overall long-term growth prospects, expectations regarding recovery in our industry, including the timing thereof, Statements about demand for our products, our competitive position, and market share. The impact of tariffs, our current and future inventory levels, charges, reserves, and their impact on future financial results. Inventory supply and its impact on our customer shipments. Statements about our revenue and adjusted EBITDA for the second quarter of 2025 and our revenue for the full year of fiscal year 2025. Our ability to penetrate new markets and expand our market share, including expansion in international markets. Investments in our product portfolio are forward-looking. and as such are subject to known and unknown risks and uncertainties, including but not limited to those factors that are described in today's press release and discussed in the risk factors section of our most recent annual report on Form 10-K. Our quarterly report on Form 10-Q for the fiscal quarter ended March 31st, 2025, and other reports we may file with the SEC from time to time. These risks and uncertainties could cause actual results to differ materially from those expressed on this call. These forward-looking statements are made only as of the date made. During our call today, we will reference certain non-GAAP financial measures. We include non-GAAP to GAAP reconciliations in our press release furnished as an exhibit to our Form 8K. The non-GAAP financial measures provided should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. Finally, I would like to remind everybody that this conference call is being webcast, and a recording will be made available for replay on Tygo's investor relations website at investors.tygoenergy.com. With that, I'd like to now turn the call over to Tygo CEO, Vialan. V?

Thank you, Vialan. To begin today's discussion, I will highlight key areas in our recent financial and operational performance and briefly address the current macroeconomics development before turning the call over to our CFO, Bill Roschlein. He will discuss our financial results for the first quarter in more depth, as well as provide our guidance for the second quarter and the full year of 2025. After that, I will share some closing remarks, tell you about our outlook, and then open the call for questions from you and the analysts. I am pleased to report that we ended the first quarter of 2025 with our fifth increase in sequential quarterly revenue growth, growing 9.1 percent sequentially and 92.2 percent on a year-over-year basis. In the first quarter of 2025, we reported a total revenue of $18.8 million and shipped 502,000 of 351 megawatts of MLPE. I am exceptionally proud of what our team here at Tygo has accomplished. To give some geographical color on our results, we saw positive sequential sales growth in EMEA, the Americas, and APAC regions. Within EMEA, the EMEA region, the recovery that began for us as a year ago has now broadened as we saw much stronger results from Italy and the Netherlands. In addition to both, the Americas and Asia Pacific regions also grew sequentially in the first quarter. I'm also excited about our recently introduced 22-amp TS4A series, now serving panels up to 725 watts, and joining the TS4X family with the highest safety solution, including the unique TIGO multi-factor rapid shutdown, demonstrating our commitment to stay ahead of the module performance scales. Given the current developments in Washington, many of you are likely interested in how the latest reciprocal tariff decisions may impact us. As you may know, the majority of Tiger's revenue occur outside of the United States. Based on the current reciprocal tariffs announced, we estimated that approximately 5% of our Q1 revenue would have been affected by the China reciprocal tariffs of 145%. We also estimate that approximately 15% of our Q1 revenue would have been affected by 10% of the rest of the world's reciprocal tariffs. We are currently working with our supply chain partners to mitigate the effects of these reciprocal tariffs where possible. And with that, I will turn it over to Bill.